Kraken Reportedly Confirms Confidential IPO Filing as Valuation Falls to $13.3B
By Micah Zimmerman
Kraken has confidentially filed for an IPO, confirmed by co-CEO Arjun Sethi, with its valuation at $13.3 billion, down from a $20 billion peak amid volatile crypto markets. The exchange recently secured a Federal Reserve master account for direct USD settlement and a $200 million investment from Deutsche Börse for a 1.5% stake. Despite a recent extortion attempt involving limited client data access by insiders, no trading systems or funds were compromised.
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